Funding you earn now, next payment 00:00 UTC+0.0049%/8h= +5.3% APRnext payment +$0.24 per $10,000 · paid last 24h 0.000%
Price spread now: BingX against Binance+0.100%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$650.649% of the position
Funding, last 7 days+0.016%+$2 on $10k
+Price spread, last 7 days−0.052%−$5 · spread now +0.100%, 7d avg +0.039%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.061% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MORPHOUSDT | 2.6371 | 0.0051 | pay 0.0026% / 4h | 1h 33m | $16.1M | $25.9M | 75x |
| Short | BingX MORPHO-USDT | 2.6397 | 0.0100 | get 0.0050% / 4h | 1h 33m | — | $1.5M | — |
Binance MORPHOUSDT
BingX MORPHO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.23
- Price spread: +0.100% → +0.039%
- $6.1
- Slippage, 4 orders
- −$44.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$48.57
- Costs to cover
- 0.649%
- Break-even
- 40.2 days
Slippage from Binance: live order book, 8 min ago; BingX: live order book, 14 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 8 min ago | 0.94 bp | 16.1 bp −$16 | 39.0 bp −$390 | doesn't fit | doesn't fit |
| Sell BingX live order book, 14 min ago | 2.08 bp | 18.4 bp −$18 | 39.2 bp −$392 | 234.8 bp −$23.5K | 570.5 bp −$285.2K |
MORPHO on 27 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_MORPHOUSD | −0.1860% | 1h | 2.6385 | +0.055% | $82K | $154K | 20x | as long as short |
| Deribit MORPHO_USDC-PERPETUAL | −0.1263% | 1h | 2.6396 | +0.096% | $11K | $911 | 10x | as long as short |
| 01 Exchange MORPHOUSD | −0.1200% | 1h | 2.6322 | −0.184% | $865 | $13K | 5x | as long as short |
| Polymarket Perps MORPHO-USD | −0.0704% | 1h | 2.6384 | +0.051% | $24K | $1.8M | 5x | as long as short |
| Bybit MORPHOUSDT | −0.0619% | 4h | 2.6390 | +0.074% | $8.5M | $9.5M | 25x | as long as short |
| GRVT MORPHO_USDT_Perp | −0.0614% | 4h | 2.6383 | +0.047% | $29K | $146K | 10x | as long as short |
| Injective MORPHO/USDC PERP | −0.0337% | 1h | 2.6430 | +0.225% | $37 | $242K | 5.5x | as long as short |
| Coinbase International MORPHO-PERP-INTX | −0.0312% | 1h | 2.6427 | +0.214% | $76K | $43K | 25x | as long as short |
| Gate MORPHO_USDT | −0.0190% | 4h | 2.6389 | +0.070% | $766K | $533K | 50x | as long as short |
| BloFin MORPHO-USDT | −0.0189% | 4h | 2.6369 | −0.006% | $641K | $244K | 20x | as long as short |
Kraken Futures PF_MORPHOUSD
Deribit MORPHO_USDC-PERPETUAL
01 Exchange MORPHOUSD
Polymarket Perps MORPHO-USD
Bybit MORPHOUSDT
GRVT MORPHO_USDT_Perp
Injective MORPHO/USDC PERP
Coinbase International MORPHO-PERP-INTX
Gate MORPHO_USDT
BloFin MORPHO-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MORPHO_USDC | −0.0153% | 4h | 2.6388 | +0.066% | $10K | $34K | 10x | as long as short |
| Phoenix MORPHO | −0.0090% | 1h | 2.6435 | +0.244% | $34K | $484K | 5x | as long as short |
| Variational Omni MORPHO | −0.0086% | 4h | 2.6397 | +0.100% | $628K | $1.2M | — | as long as short |
| Reya MORPHORUSDPERP | −0.0004% | 1h | 2.6388 | +0.064% | $16 | — | 10x | as long as short |
| Extended MORPHO-USD | +0.0048% | 1h | 2.6365 | −0.021% | $103K | $301K | 10x | as long as short |
| Binance MORPHOUSDTlong | +0.0051% | 4h | 2.6371 | long leg | $16.1M | $25.9M | 75x | |
| MEXC MORPHO_USDT | +0.0054% | 4h | 2.6387 | +0.062% | $5.4M | $1.1M | 100x | as long as short |
| Lighter MORPHO | +0.0096% | 1h | 2.6431 | +0.227% | $315K | $334K | 5x | as long as short |
| Paradex MORPHO-USD-PERP | +0.0100% | 8h | 2.6388 | +0.067% | $5K | $3 | 5x | as long as short |
| Hyperliquid MORPHO | +0.0100% | 1h | 2.6454 | +0.316% | $6.2M | $7.1M | 5x | as long as short |
| Aster MORPHOUSDT | +0.0100% | 4h | 2.6404 | +0.127% | $57K | $31K | 20x | as long as short |
| OKX MORPHO-USDT-SWAP | +0.0100% | 4h | 2.6394 | +0.089% | $3.2M | $4.4M | 20x | as long as short |
| KuCoin MORPHOUSDTM | +0.0100% | 4h | 2.6416 | +0.172% | $591K | $270K | 50x | as long as short |
| Bitget MORPHOUSDT | +0.0100% | 4h | 2.6396 | +0.096% | $2.9M | $1.9M | 75x | as long as short |
| BingX MORPHO-USDTshort | +0.0100% | 4h | 2.6397 | +0.100% | — | $1.5M | — | |
| SoDEX MORPHO-USD | +0.0100% | 1h | 2.6389 | +0.070% | $22K | $4K | 5x | as long as short |
| GMX MORPHO/USD [ETH-USDC] | L +0.0188% / S −12.8197% | 1h | 2.6415 | +0.170% | $1K | — | 100x | as long as short |
Orderly PERP_MORPHO_USDC
Phoenix MORPHO
Variational Omni MORPHO
Reya MORPHORUSDPERP
Extended MORPHO-USD
MEXC MORPHO_USDT
Lighter MORPHO
Paradex MORPHO-USD-PERP
Hyperliquid MORPHO
Aster MORPHOUSDT
OKX MORPHO-USDT-SWAP
KuCoin MORPHOUSDTM
Bitget MORPHOUSDT
SoDEX MORPHO-USD
GMX MORPHO/USD [ETH-USDC]